Jefferies Group Reiterates Market Outperform Rating for Alexandria Real Estate Equities (ARE)
Alexandria Real Estate Equities (NYSE:ARE)‘s stock had its “market outperform” rating reiterated by equities research analysts at Jefferies Group in a research note issued to investors on Wednesday. They currently have a $82.00 price objective on the stock, up from their previous price objective of $78.00. Jefferies Group’s target price would suggest a potential upside of 4.49% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at Barclays raised their price target on shares of Alexandria Real Estate Equities from $79.00 to $83.00 in a research note on Monday, July 21st. They now have an “overweight” rating on the stock. Separately, analysts at RBC Capital raised their price target on shares of Alexandria Real Estate Equities from $73.00 to $77.00 in a research note on Tuesday, May 13th. They now have a “sector perform” rating on the stock. Finally, analysts at JMP Securities reiterated a “market outperform” rating on shares of Alexandria Real Estate Equities in a research note on Wednesday, May 7th. They now have a $78.00 price target on the stock, up previously from $77.00. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $76.63.
Alexandria Real Estate Equities (NYSE:ARE) traded down 0.03% during mid-day trading on Wednesday, hitting $78.48. 393,675 shares of the company’s stock traded hands. Alexandria Real Estate Equities has a 1-year low of $60.86 and a 1-year high of $79.73. The stock’s 50-day moving average is $77.6 and its 200-day moving average is $73.91. The company has a market cap of $5.582 billion and a P/E ratio of 45.99.
Alexandria Real Estate Equities (NYSE:ARE) last posted its quarterly earnings results on Monday, July 28th. The company reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.18 by $0.01. The company had revenue of $176.40 million for the quarter, compared to the consensus estimate of $176.90 million. During the same quarter in the previous year, the company posted $1.00 earnings per share. The company’s revenue for the quarter was up 14.6% on a year-over-year basis. Analysts expect that Alexandria Real Estate Equities will post $4.77 EPS for the current fiscal year.
Alexandria Real Estate Equities, Inc is a real estate investment trust (NYSE:ARE).
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